navreenkaur navreenkaur

23-05-2023
Mathematics

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Susan borrowed $18,500 at 5.00% p.a. from her parents to start a business. In 4 months, she repaid $5,300 towards the loan, and in 10 months she repaid $3,800. How much would she have to repay her parents at the end of 13 months to clear the outstanding balance? Use the declining balance method to calculate the last payment.

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